Confirmed at the PS4 event in New York, the console will support new business models such as free-to-play and will launch during the 2013 end of year holiday season.

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Compared to a "supercharged PC", the PS4 features an x86 CPU, enhanced PC GPU and 8GB RAM, and will be easier to develop for than the PS3.

The DualShock 4 controller, which was leaked before the event, appears similar in design to the standard PS3 controller, except for a touch pad, share button, and light bar that acts like a PlayStation Move.